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Stock With Momentum: NWP Holdings
by Cals Fri 29 Apr 2016, 05:13
Stock With Momentum: NWP Holdings
By Asia Analytica / The Edge Financial Daily | April 28, 2016 : 10:45 AM MYTThis article first appeared in The Edge Financial Daily, on April 28, 2016.
NWP Holdings Bhd (+ve)
SHARES in NWP Holdings Bhd (fundamental: 0.75/3, valuation: 0/3) triggered our momentum algorithm for the fourth time over the past two weeks, as its stock price hit its all-time high of 59 sen yesterday. The stock has been trending higher since April 4, and rising as much as 46.5 sen or 422.7% during the period. Year to date, it has risen 47.5 sen or 475%.
Last Tuesday, NWP was slapped with an unusual market activity after its share price jumped 8.5 sen or 68% to close at 21 sen, compared with 12.5 sen a day before. Trading volume also swelled to 9.04 million shares compared with its 200-day average volume of 281,260 shares.
The interior and exterior moulded timber products manufacturer saw Cashflow Budget Sdn Bhd, which its chief executive officer Wong See Ming has an indirect interest in, cease to be a substantial shareholder of the company after disposing of 24.2 million shares.
NWP swung into a net loss of RM477,000 in the first quarter ended Nov 30, 2015, compared to a small profit of RM210,000; revenue fell 34% to RM3.36 million from RM5.12 million.
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